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ARTICLE · 18 MARCH 2012

Real Property and Conveyancing Legislation Amendment Act 2009 (NSW)

DLA Piper Australia
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This article focusses on issues in relation to the duties of mortgagees (which commenced on 1 November 2011).

AustraliaReal Estate and Construction
James Morse
James Morse
Lindsay Joyce
Lindsay Joyce

Like most pieces of legislation, the passing of the Real Property and Conveyancing Legislation Amendment Act 2009 (NSW) (Act) occurred without much (if any) fanfare. It was heralded as:

an Act to amend the Real Property Act 1900 and other legislation to make further provision with respect to indefeasibility of title, compensation, identification requirements and duties of mortgagees; and for other purposes.

We focus here on the issues with respect to the duties of mortgagees (although the duties will also apply to chargees, in certain circumstances).

As stated in the New South Wales Parliament in Barry Collier's 'Agreement in Principle' Speech and in The Honourable Penny Sharpe's 'Second Reading' Speech, the Act sought to remedy:

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